Speaking after the 5-2 round 16 first-leg win last night, the Argentina striker refused to shut down rumours of a potential move to Barcelona this summer.
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On a contract until the summer of 2030, Alvarez cannot guarantee that he will remain at Atlético next season.
"I don't know, maybe I am, maybe I'm not. I'm happy. I'm thinking about one day at a time," he said at the final whistle.
Atletico coach Diego Simeone added, "I think he looks happy. He scores goals, if you look at the teams he has played for (River Plate and Manchester City), Atlético is the team where he has scored the most goals.
"He looks committed and positive. There is not much difference between this season and last season in terms of the number of goals he has scored."